AZERBAIJAN: in January local insurers generated GWP 6.5% more y-o-y

For January, 2019, Azeri insurers generated GWP in the amount of AZN 88.2 million (+6.57% y-o-y), according to the Chamber of Supervision of Financial Markets of Azerbaijan.

Based on the market supervisor's data, 82.3% or AZN 72.6 million were generated by voluntary insurance and 17.7% or AZN 15.6 million by compulsory classes.

Total paid claims in January amounted to AZN 17.2 million, which is about 25.2% less y-o-y. The share of voluntary insurance in total paid claims reached 62.8% or AZN 10.8 million, and the share of the compulsory classes amounted accordingly to 37.2% or AZN 6.4 million.